Agency

The past two decades have witnessed dramatic changes to the boards of directors of U.S. public corporations.

Policymakers and investors around the world have been increasingly emphasizing the importance of effective corporate governance systems.

We study the impact of corporate governance on foreign exchange risk management by using a large-scale natural experiment, the adoption o

The relationship between dividends and taxes continues to be an open empirical question.

Controlling shareholders may feel tempted to capture benefits for themselves at other shareholders’ expense.

A half century ago, corporate legal theory pursued an institutional vision in which corporations and the law that creates them protect pe

Many policy-makers appear to subscribe to the view that granting shareholders more rights is better.